The American Cannabis Operator Index declined for the fifth straight month falling 10.7% to 62.66. The index, which launched in October 2018, previously had five straight months of gains, reported New Cannabis Ventures.
In 2021, the index lost 0.6%, while over the last year it climbed 81.5%. At the launch, it had a value of 100, while its all-time closing high was 124.16 in December 2018.
This July, the index included 30 companies, out of which 26 were multi-state operators (MSO) and four are involved only in CBD extraction from industrial hemp. Only four companies enjoyed
modest performance last month, while 16 fell more than 10%.
The top players in July were - Columbia Care CCHWF, Lowell Farms LOWLF, Ayr Wellness AYRWF and Ascend Wellness AAWH.
On a year-to-date basis, Columbia Care has lost 20.7%; Lowell Farms gained 8.8%; Ayr Wellness was up 21.7% and Ascend gained 34.9% since its IPO, which was after the year started.
The top losers for the month were TerrAscend TER TRSSF, The Parent Company GRAM GRAMF, Planet 13 Holdings PLTH PLNHF and Stem Holdings STEM STMH.
Year-to-date, TerrAscend lost 19.4%, The Parent Company fell 60.8%, Planet 13 declined 6.1% and STEM Holdings dropped 32.4%.
In August, the index included 30 stocks with two additions coming in the form of C21 Investments CXXI CXXIF and Glass House GLAS GLASF and two removals being CV Sciences CVSI and Stem Holdings.
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Ad Disclosure: The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guaranty the accuracy or availability of any rates shown above. Institutions may have different rates on their own websites than those posted on Bankrate.com. The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.
All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own Web site where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the Bankrate.com rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.
Consumer Satisfaction: Bankrate attempts to verify the accuracy and availability of its Advertisers' terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the institution you choose, please click here.
Rate collection and criteria: Click here for more information on rate collection and criteria.